Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $25.17 Average PT from Analysts

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have earned an average rating of “Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $25.17.

SRRK has been the subject of several analyst reports. Raymond James initiated coverage on shares of Scholar Rock in a report on Thursday, March 28th. They set a “strong-buy” rating and a $30.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $28.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 26th. Wedbush restated an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a research note on Tuesday, January 23rd. Truist Financial restated a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a research note on Wednesday, April 3rd. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 19th.

Scholar Rock Stock Performance

Scholar Rock stock opened at $14.09 on Monday. The company has a market cap of $1.10 billion, a PE ratio of -7.08 and a beta of 0.90. The company has a fifty day moving average price of $15.39 and a two-hundred day moving average price of $14.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80. Scholar Rock has a 12 month low of $5.56 and a 12 month high of $21.17.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Tuesday, March 19th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). Research analysts expect that Scholar Rock will post -2.01 earnings per share for the current year.

Insiders Place Their Bets

In other Scholar Rock news, CEO Jay T. Backstrom sold 11,614 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $182,804.36. Following the sale, the chief executive officer now owns 352,671 shares in the company, valued at approximately $5,551,041.54. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Scholar Rock news, CEO Jay T. Backstrom sold 11,614 shares of Scholar Rock stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $182,804.36. Following the transaction, the chief executive officer now owns 352,671 shares of the company’s stock, valued at approximately $5,551,041.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Junlin Ho sold 3,489 shares of Scholar Rock stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $54,916.86. Following the transaction, the general counsel now directly owns 208,771 shares in the company, valued at approximately $3,286,055.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,359 shares of company stock worth $351,931. Company insiders own 26.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in Scholar Rock by 16.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after acquiring an additional 1,149,519 shares in the last quarter. FMR LLC grew its stake in shares of Scholar Rock by 3.8% in the 3rd quarter. FMR LLC now owns 8,005,654 shares of the company’s stock valued at $56,840,000 after buying an additional 291,156 shares in the last quarter. Redmile Group LLC grew its stake in shares of Scholar Rock by 7.5% in the 3rd quarter. Redmile Group LLC now owns 4,733,248 shares of the company’s stock valued at $33,606,000 after buying an additional 329,408 shares in the last quarter. Bellevue Group AG grew its stake in shares of Scholar Rock by 1.5% in the 4th quarter. Bellevue Group AG now owns 2,168,925 shares of the company’s stock valued at $40,776,000 after buying an additional 31,000 shares in the last quarter. Finally, Polar Capital Holdings Plc bought a new stake in shares of Scholar Rock in the 3rd quarter valued at approximately $10,664,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

About Scholar Rock

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.